US-based industrial robot maker Rethink Robotics raised $18m in a series E round late last month that included industrial product and appliance equipment maker General Electric.
The round also featured Adveq, Bezos Expeditions, CRV, Highland Capital Partners, Sigma Partners, DFJ, Two Sigma Ventures and Goldman Sachs. General Electric invested through its corporate venturing arm, GE Ventures.
Founded in 2008, Rethink Robotics builds flexible, programmable robots that can automate parts of the manufacturing process. It will use the series E financing for product development and international growth.
Scott Eckert, president and CEO of Rethink Robotics, said: “We are seeing increasing global demand for our smart, collaborative robots as manufacturers build more connected factories in response to changing consumer needs.
“Our investors believe in the enormous market potential for simple-to-deploy, flexible robots, and this funding will help our team not only continue to develop our products to the fullest, but to make them available for manufacturers everywhere.”
Rethink Robotics has now raised approximately $118m altogether. GE Ventures led its $26.6m series D round at the start of 2015, investing alongside Goldman Sachs, Bezos Expeditions, CRV, Highland Capital, Sigma Partners, DFJ and Two Sigma.
– Image courtesy of Rethink Robotics